Press Release

DIAMOND POWER INFRASTRUCTURE LIMITED September 11, 2026 To, To, The Manager – Listing Department The Manager – Listing Department BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, BKC, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 522163 Symbol: DIACABS Sub: Press release on “Diamond Power Infrastructure Ltd Completes Full Exit from the NCLT Resolution Framework — One Year Ahead of Schedule” Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we are submitting herewith press release issued today, “Diamond Power Infrastructure Ltd Completes Full Exit from the NCLT Resolution Framework — One Year Ahead of Schedule”. You are requested to kindly take the above on record. Thanking you, Yours faithfully, For Diamond Power Infrastructure Limited Jayesh Patel Company Secretary ICSI M. No.: A14898 Encl.: Annexure B – Press Release Regd. Office & Factory: Vadadala, Phase – II Savli, Vadodara, Gujarat, India-391520 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com, Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-02267-251202 DIAMOND POWER INFRASTRUCTURE LIMITED Press Release Diamond Power Exits the NCLT Framework a Full Year Ahead of Schedule ₹2401 crore Resolution Plan consideration prepaid in full; all legacy legal matters cleared; Company now eligible for credit ratings with its entire gross block free for bank financing — turnaround complete Ahmedabad, 11 September 2026,Diamond Power Infrastructure Limited ("Diamond Power" / "DICABS" / "the Company"), one of India's largest and oldest manufacturers of power cables and overhead conductors, is pleased to inform its shareholders and investors that it has completed its exit from the resolution framework of the Insolvency and Bankruptcy Code, 2016 (IBC), administered by the National Company Law Tribunal (NCLT). The Company has prepaid, in full, the entire ₹501 crore cash Plus 30 years Bonds aggregating Rs 1900 cr consideration payable to its erstwhile lenders under the NCLT-approved Resolution Plan. This amount was contractually payable over five years, with the final instalment due on 30 September 2027. By discharging it one year in advance — and availing the pre-payment discounts extended by the lenders in the plan — every obligation of the Promoters under the Approved Resolution Plan now stands fulfilled, and Diamond Power has formally exited the NCLT mechanism. THE RESOLUTION AT A GLANCE Diamond Power was acquired through the NCLT-supervised process by a consortium comprising Mr. Rakesh Shah, GSEC and the Monarch Group. The Approved Resolution Plan provided for the following consideration to lenders: Component Amount Terms Upfront cash consideration ₹501 crore Payable over 5 years to 30 Sept 2027 — prepaid in full, Sept 2026 Redeemable bonds (30- ₹1,900 crore Redeemable after 30 year) years,carrying a coupon of 0.001% redeemable at NPV of 16% Per annum Regd. Office & Factory: Vadadala, Phase – II Savli, Vadodara, Gujarat, India-391520 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com, Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-02267-251202 DIAMOND POWER INFRASTRUCTURE LIMITED Component Amount Terms Total consideration (cash ₹2,401 crore Resolution Plan fully + bonds) implemented WHAT MEANS FOR DIAMOND POWER INFRASTRUCTURE LTD ▪ Eligible for credit ratings. With the Resolution Plan fully implemented and no obligation outstanding towards the erstwhile lenders, the Company is now eligible to obtain credit ratings from recognised rating agencies in the ordinary course — opening access to bank credit, the debt capital markets and institutional investors on standard commercial terms. ▪ Entire gross block available for bank funding. The Company's complete fixed-asset base — its integrated manufacturing facility at Vadodara, plant and machinery, rod mills and captive power assets — is free of any resolution-era charge and is fully available as security for working-capital and term financing from banks and financial institutions. ▪ No legacy overhang of any kind. All criminal proceedings involving the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), relating to the conduct of the Company prior to its acquisition under the IBC, have already been cleared by the respective Hon'ble Courts ▪ A clean, profitable platform. Diamond Power today combines a debt-light balance sheet with a five-decade manufacturing legacy: With captive aluminium rod mills , captive wind power, and a product range spanning LV, MV, HV and EHV power cables and a full portfolio of overhead conductors. ▪ Turnaround complete — growth phase begins. The Company returned to sustained profitability in FY 2023-26, and its strategic focus now shifts wholly to scaling MV/EHV cable capacity, deepening backward integration, and expanding its customer base as India undertakes the largest grid build-out in its history & the company will not carry its NCLT Tag in large Projects. MANAGEMENT COMMENTARY Mr. Rakesh Shah, Promoter Director: "When we took on Diamond Power through the NCLT process, we did so on the conviction that this was a fundamentally strong industrial asset that deserved a second life. Today, having repaid every rupee of the cash consideration a full year ahead of schedule, and with every legacy legal Regd. Office & Factory: Vadadala, Phase – II Savli, Vadodara, Gujarat, India-391520 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com, Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-02267-251202 DIAMOND POWER INFRASTRUCTURE LIMITED matter behind us, that conviction has been vindicated. Diamond Power is now a clean, rateable, bankable and profitable company — and this is where its real growth story begins." Mr. Himanshu Shah, Promoter Director: "We inherited a company that had lost its lenders, its customers and its confidence — but never its capability. The plant, the know-how and the DICABS name were all intact; what was missing was capital, discipline and belief. We have rebuilt trust with every stakeholder by honouring every commitment ahead of time. Today's exit closes that chapter for good, and what lies ahead is far more exciting than what lies behind. With a rated, bankable balance sheet and every asset free to fund growth, our ambition is to build Diamond Power into a global cables and conductors major. This is the beginning of a glorious future, and we invite investors in India and across the world to be part of it." ABOUT DIAMOND POWER INFRASTRUCTURE LTD Diamond Power Infrastructure Limited, marketed under the DICABS brand, is a five-decade-old manufacturer of power cables and overhead conductors headquartered in Vadodara, Gujarat, India. The Company manufactures LV, MV, HV and EHV power cables, aerial bunched cables, control cables and a full range of overhead conductors (AAC, AAAC, ACSR, AL-59 and HTLS), supported by captive aluminium rod mills and captive wind power. Its products serve power utilities, transmission and distribution companies, renewable-energy developers, EPC contractors and industrial customers across India and in export markets. Forward-looking statements: This announcement contains statements about the Company's future plans and prospects that are subject to risks and uncertainties, including economic conditions, commodity prices, regulatory developments and competitive dynamics. Actual results may differ materially. The Company undertakes no obligation to update any forward-looking statement. Nothing herein constitutes an offer or solicitation to purchase securities of the Company. Investor Relations: Diamond Power Infrastructure Ltd, Vadodara investors@dicabs.com. www.dicabs.com Regd. Office & Factory: Vadadala, Phase – II Savli, Vadodara, Gujarat, India-391520 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com, Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-0 [Showing first 8,000 characters — download PDF for full document]